Centralised Processing of Equalisation Levy Statement Scheme, 2023 - 03/2023 - Income Tax

Centralised processing of equalisation levy statements streamlines electronic validation, computation, communication and refund reconciliation.

The Scheme centralises receipt and electronic processing of Equalisation Levy Statements, authorises the Centre to validate, compute levy and interest, reconcile payments and determine payable sums or refunds, and to declare statements invalid for use of non validated software or incomplete information. Revised statements replace originals; unprocessable statements are referred to the Assessing Officer. Communications are electronic, no personal appearance is required, and the Director General with Board approval may specify automated procedures and software validation. Processing errors causing excess refunds will be rectified and recovered.